WesBanco, Inc. (NASDAQ:WSBC) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• WesBanco has a consensus analyst rating of “Moderate Buy” from six covering firms, with an average 12-month price target of $39.50.
• The company’s recent quarterly results topped earnings expectations, posting $0.91 EPS versus the $0.86 estimate, while revenue came in slightly below forecasts and fell 3.1% year over year.
• WesBanco’s board approved a 4 million share buyback, a move that often signals management believes the stock is undervalued.

Shares of WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $39.50.

WSBC has been the topic of a number of research reports. Raymond James Financial restated a "strong-buy" rating and set a $41.00 price target on shares of WesBanco in a research report on Thursday, March 12th. Weiss Ratings upgraded WesBanco from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. DA Davidson reiterated a "buy" rating and issued a $41.00 price objective on shares of WesBanco in a report on Wednesday, April 22nd. Zacks Research downgraded WesBanco from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 28th. Finally, Piper Sandler decreased their price objective on WesBanco from $42.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd.

Insider Transactions at WesBanco

In related news, Director Louis Michael Altman acquired 3,000 shares of the firm's stock in a transaction dated Thursday, April 23rd. The shares were purchased at an average price of $33.72 per share, for a total transaction of $101,160.00. Following the completion of the acquisition, the director owned 33,164 shares in the company, valued at approximately $1,118,290.08. This represents a 9.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph R. Robinson acquired 1,000 shares of the firm's stock in a transaction dated Monday, April 27th. The stock was bought at an average price of $34.54 per share, for a total transaction of $34,540.00. Following the acquisition, the director owned 19,068 shares of the company's stock, valued at approximately $658,608.72. This trade represents a 5.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 7,940 shares of company stock worth $267,299. Company insiders own 2.07% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Covestor Ltd increased its holdings in shares of WesBanco by 12,500.0% in the fourth quarter. Covestor Ltd now owns 756 shares of the financial services provider's stock worth $25,000 after buying an additional 750 shares during the period. Smartleaf Asset Management LLC increased its holdings in WesBanco by 255.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 574 shares during the period. Hilton Head Capital Partners LLC purchased a new position in WesBanco during the 4th quarter valued at about $29,000. GAMMA Investing LLC increased its holdings in WesBanco by 41.1% during the 4th quarter. GAMMA Investing LLC now owns 1,113 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 324 shares during the period. Finally, First Horizon Corp increased its holdings in WesBanco by 55.4% during the 4th quarter. First Horizon Corp now owns 1,302 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 464 shares during the period. Hedge funds and other institutional investors own 61.41% of the company's stock.

WesBanco Trading Up 2.2%

NASDAQ WSBC opened at $34.17 on Thursday. The stock's 50-day simple moving average is $34.29 and its two-hundred day simple moving average is $34.13. WesBanco has a twelve month low of $29.18 and a twelve month high of $38.10. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 11.02 and a beta of 0.69.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. WesBanco had a return on equity of 9.76% and a net margin of 21.12%.The business had revenue of $257.23 million for the quarter, compared to the consensus estimate of $264.52 million. During the same quarter last year, the business posted $0.66 earnings per share. The company's revenue for the quarter was down 3.1% on a year-over-year basis. Research analysts forecast that WesBanco will post 3.58 EPS for the current fiscal year.

WesBanco declared that its board has approved a stock buyback program on Wednesday, May 20th that authorizes the company to repurchase 4,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

About WesBanco

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.

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